Client experience: Buying a penthouse in a green suburb of Paris with the Tranio team
Paris is a city that never goes out of fashion. The capital of France is an architectural benchmark where modern public spaces blend organically with the historic environment and architectural monuments. Its image is glorified in the masterpieces of world art, and Paris is known all over the world as an example of quiet luxury that preserves the values of classic French culture.
However, Paris has always been a centre of innovation, and in indifferent times the city has been overwhelmed by the waves of new trends, bringing progressive changes to the established image of the city. One of these new waves is set to be the 2024 Olympic Games, which will attract not only thousands of sports fans to the French capital, but also an influx of new investments in the city’s infrastructure.
On the eve of the Olympic Games, there is a significant increase in interest from foreign investors in property in Paris. In this article, we will share our client’s recent experience of buying a penthouse in the suburbs of Paris in the spring of 2023.
The new life of the Paris suburbs
In recent years, the trend towards decentralisation of urban life has intensified in France, and Paris is no exception. Public and cultural spaces are now often located in district centres outside the Parisian perimeter: in communes and suburbs. At the same time, non-central districts are not containing only residential quarters: they also contain local administrative and educational centres, and due to the presence of historical monuments, there is often a developed tourist cluster.
Residential neighbourhoods sit alongside office centres and service infrastructure: restaurants, shopping centres, local farmers’ shops and Sunday markets. At the same time, the traffic congestion in the new districts is much lower than in the old centre of Paris, and the pace and schedule are in keeping with European notions of the «slow city» (Cittaslow town).
The global trend towards the growth of remote employment has led to an increase in demand for housing in such «slow cities», where green spaces, sports and family recreation facilities are within walking distance — finally, suburban communes are not worse than the city centre in terms of infrastructure development, but they are better ecologically.
It should be added that the idea of decentralising the metropolis is not new to the French. As early as the middle of the twentieth century, famous modernist architects developed theories on the principle of urban development and popularised the creation of satellite cities around Paris in their projects. The implementation of these projects was highly praised in architectural circles around the world, and the principles of decentralisation went on to form the basis of urban planning far beyond Europe.
In 2023, in contrast to the trends of the past decades, the predominant feature of new areas outside the Paris perimeter is low and medium-rise construction. This characteristic allows residents to feel closer to nature, if they wish, to be involved in the landscaping of their house territories, to play sports or go for walks in the fresh air and to participate in the social life of their neighbourhood.
Buying a penthouse near the Bois de Boulogne
Tranio’s client Maxim was strongly interested in France and Paris, in particular, to buy a property for personal use. In personal communication with Tranio’s managers, Maxim said that he likes the culture, history and lifestyle of the people in this country and therefore France was preferable to all other European countries for investment purposes. Currently, the client lives with his family on the island of Cyprus, where he has a permanent residence. Before making the decision to buy, Maxim had been to France many times on business and private trips, so in Paris he was looking for a property primarily for his own residence.
Maxim found Tranio team’s projects on social media while monitoring the French property market. The client was immediately attracted by the positive feedback about working with the company and the completed transactionsHe was also attracted by the wide range of real estate projects in Paris: to make a decision, the investor visited several objects under construction in the city and its suburbs. As a result, Maxim’s choice was a comfortable penthouse with a terrace and panoramic views of the city in the municipality of Boulogne, west of Paris.
Boulogne-Billancourt is a suburb of Paris, located in the southwest of the city, bounded by the Bois de Boulogne to the north, and by the Seine to the west, south and east. From the east, across the river, the Saint-Cloud Park is also close to it, and from the south, the Ile Saint-Germain Park. Despite the geographical isolation of the area, the distance from the centre of the commune to the Eiffel Tower and the Champ-de-Mars is only a few kilometres. To the east, the 15th and 16th arrondissements of Paris border the commune of Boulogne, which are considered one of the most prestigious in the city for its architecture and bohemian life. Historically, the Parisian aristocracy lived in this area.
Today Boulogne is popular in the circles of architects and lovers of urbanism thanks to its famous renovation project, which is a reference for modern cities. At the beginning of the twentieth century, the commune was an industrial area, the birthplace of the French automobile industry — the Renault company. The renovation project has completely changed the semantic component of the district, turning it into a modern high-tech low-rise and landscaped suburb for living and doing business, but also preserved the cultural codes of the historical past — in the architecture of public spaces of Boulogne. Maxim noted all these advantages of the Paris suburb in the interview with Tranio, when discussing the benefits of the property he had bought.
The penthouse chosen by the client is located in the centre of the commune, in a highly ecological modern building with facades made of natural materials. On the lower and upper floors of the apartment, panoramic windows overlook the surrounding neighbourhoods, and the large terrace can be used for family dinners with sunset views. The decoration is made in white minimalistic shades, the upper floor has a free layout that allows the workspace to be used in a variety of ways. The building is currently under construction and is scheduled for delivery in 2025.
Among the main reasons for choosing this property , Maxim identified the following:
- The Bois de Boulogne. There is a large nature reserve within walking distance of the apartment, where you can go jogging in your free time.
- High-quality infrastructure of the commune. A distinctive advantage was the good transport system of the area and the presence of shopping centres around.
- Distance to the centre of Paris. It was important for the investor that the time spent on the road to the city centre was minimal and that the distance could be covered on foot.
- The design of the building. The investor liked the complex during his visit: a comfortable environment in terms of layout, natural materials in the decoration, the presence of air and light.
- The construction progress of the project. The developer has a good reputation, the work has been carried out without delay, and the quality of the object is already noticeable at the construction stage.
Thus, the complex met all the parameters of interest to the client, which he noted during his visit. The geographical location and the quality of the infrastructure in the commune of Boulogne played an important role in an investor’s decision to buy property.
Signing a property contract with Tranio experts
From the very beginning, the work with the client was conducted by Tranio manager and property expert in France — Natalia Emelianenko. Natalia is a professional in her field, being a property investor herself. She is well acquainted with the specifics of the French market and French office management, and also knows which districts of Paris are most suitable for investing in primary housing.
Only two months elapsed between start of the work with Natalia and the final completion of the transaction, which is a very short by French standards for a property purchase. Maxim noted that there were no difficulties with the documents during the whole period of registering the property: the process went well and on time. The final contract was signed in May 2023, and now the investor is waiting for the completion of construction.
It is worth noting that in 2023, France is one of the most stable and attractive countries from an investment point of view for foreign investors in the property markets of the European Union. This is due to the fact that the country’s economy shows positive indicators even during periods of global economic instability, which means that investors are fully protected from losing their investments.
Total area 48 m² 1 bedroom
Total area 37 m² 1 bedroom
Total area 63 m² 2 bedrooms
Further plans of the investor
In an interview with Tranio, Maxim shared his plans for the future, which arose during his trip to the south of France to register his Paris property with a notary. After a visit to Nice, the client started looking to purchase a property in this region. During the same period, Natalia Emelianenko was on a working trip to Nice and provided Maxim with additional advice and valuations on properties on the Côte d’Azur. The Tranio team also visited Paris and the French Alps as part of a business tour.
At the first independent inspection of the objects, the investor doubted which complex would be more suitable for investment purposes. Natalia suggested the client of one of the objects that was included in the business trip programme. As it turned out later, it fully met all the client’s requirements in terms of budget, expected profitability and potential liquidity in case of resale.
Maxim is currently in the progress of signing a contract for this complex. The investor informed us that once construction is complete, he plans to rent out the property or resell it to increase his capital. The Tranio team is ready to assist its clients and will remain in contact throughout the process.
Tranio’s managers are ready to help you choose a property in France for a variety of purposes: to advise you on choosing a location and obtaining a residence permit when you move, or to assess the profitability of investment transactions.Contact us